Warburg Pincus (E&P) Xii Llc Sells 634,481 Shares of Ring Energy, Inc. (NYSEAMERICAN:REI) Stock

Ring Energy, Inc. (NYSEAMERICAN:REI) major shareholder Warburg Pincus (E&P) Xii Llc sold 634,481 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $0.91, for a total value of $577,377.71. Following the transaction, the insider now directly owns 28,011,162 shares in the company, valued at $25,490,157.42. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Warburg Pincus (E&P) Xii Llc also recently made the following trade(s):

• On Wednesday, May 14th, Warburg Pincus (E&P) Xii Llc sold 455,655 shares of Ring Energy stock. The stock was sold at an average price of $0.89, for a total value of $405,532.95.
• On Monday, May 12th, Warburg Pincus (E&P) Xii Llc sold 300,000 shares of Ring Energy stock. The stock was sold at an average price of $0.90, for a total value of $270,000.00.
• On Monday, February 24th, Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of Ring Energy stock. The stock was sold at an average price of $1.23, for a total value of $8,087,250.00.

Ring Energy Stock Down 1.6%

REI opened at $0.82 on Friday. Ring Energy, Inc. has a 1-year low of $0.78 and a 1-year high of $2.06. The stock’s fifty day simple moving average is $0.98 and its 200 day simple moving average is $1.32. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.46. The stock has a market cap of $163.06 million, a PE ratio of 1.44 and a beta of 1.55.

Institutional Investors Weigh In On Ring Energy

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in Ring Energy by 4,564.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,086,251 shares of the company’s stock valued at $4,938,000 after buying an additional 3,020,092 shares in the last quarter. Marshall Wace LLP acquired a new position in Ring Energy in the 4th quarter valued at $1,378,000. Jefferies Financial Group Inc. acquired a new position in Ring Energy in the 1st quarter valued at $1,092,000. Segall Bryant & Hamill LLC acquired a new position in Ring Energy in the 4th quarter valued at $1,167,000. Finally, Millennium Management LLC grew its holdings in Ring Energy by 358.0% in the 4th quarter. Millennium Management LLC now owns 1,082,632 shares of the company’s stock valued at $1,472,000 after buying an additional 846,241 shares in the last quarter. Institutional investors own 77.14% of the company’s stock.

Analyst Upgrades and Downgrades

REI has been the topic of several recent analyst reports. Industrial Alliance Securities set a $2.50 price target on Ring Energy in a research report on Friday, March 7th. Alliance Global Partners reaffirmed a “buy” rating on shares of Ring Energy in a research report on Friday, March 7th.

About Ring Energy

Ring Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties. The company has interests in 56,711 net developed acres and 2,668 net undeveloped acres in Andrews, Gaines, Crane, Ector, Winkler, and Ward counties, Texas; and 8,751 net developed acres and 12,405 net undeveloped acres in Yoakum County, Texas and Lea County, New Mexico.